- The Forum serves as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies.
- Both countries are gaining a strong foothold in terms of contributing to the global economy and establishing their authority.
DUBAI – October 28, 2017: The third edition of the annual UAE-India Economic Forum (UIEF) will be staged in Dubai on November 8 and 9, 2017, aimed to explore bilateral economic and commercial relations between the two countries to the next level. The UIEF is supported by the UAE Ministry of Economy and endorsed by UAE International Investors Council, UAE – India Business Council, Indian Chamber of Commerce, Indian Business & Professional Council and India Tourism.
The UIEF represents a new dawn in the multifaceted economic relationship between both the countries that share a vision to project the current US$ 60 billion bilateral trade to US$ 100 billion by 2020. This can only be achieved with sustained efforts to constantly engage the key stakeholders, government authorities and investors in a dialogue which strengthens their faith in the establishment.
The two-day Forum, to be held at Habtoor Grand Resort in Dubai, will bring together over 350 delegates from the UAE and India. The top government and business leaders include H.E. Juma Mohammed Al Kait, Asst Undersecretary of Foreign Trade Affairs at the UAE Ministry of Economy; Mohammad Azharuddin, Indian politician and former captain of Indian cricket team; H.E. Jamal Al Jarwan, Secretary General of the UAE International Investors Council; H.E. Fahad Obaid Al Taffaq, Director of Economic and Trade Affairs at the UAE Ministry of Foreign Affairs; Ashish Kumar Chauhan, Managing Director & CEO of Bombay Stock Exchange, to name few.
The UIEF will focus on the bilateral benefits of the increased collaboration in investment, trade, infrastructure, ports, banking, finance, and tourism between the UAE and India. The summit promises to provide exclusive insights into critical topics such as defense and security, tourism, banking and finance, renewable energy, and space technology.
Commenting on the third edition of the UIEF, Mr. Danish Shaikh, Head of Production and Marketing at UMS Conferences, said, “We are glad to announce the third edition of the UAE India Economic Forum to be held at a time, when India and the UAE are shaping strategic ties across an array of shared interests. UIEF is a definitive platform to discuss and evaluate India’s economic story with the participation of top decision-makers. Our aim is to engage and influence the people, who matter the most when it comes to making the real decisions.”
“This is a fitting time for key stakeholders from both nations to engage in strategic discussions and catalyze economic growth. Today both the countries are pursuing economic and industrial policies and strategies that will further strengthen the bilateral trade and investments. There is still a huge opportunity that can be explored between both the nations. India and UAE have re-energised their bilateral trade relations, which have been boosted by the frequent visits of both countries’ leaders in a short span of two years to discuss the future of trade and investments,” he added.
“India is the second largest trade partner for the UAE. Recent developments have further strengthened the relationship, opening a universe of opportunities. With both governments showing clarity in their vision to gain the most from this partnership, the previously ambitious goal of reaching US$ 100 billion in trade by 2020 now seems achievable,” Mr. Shaikh further said.
“The UIEF brings together the governments of the two countries, something that the forum has been successfully doing for the past two years. The Forum has now reached the next level with another set of key ministers from both sides, along with businessmen and investors who have been fueling the economy of their respective countries. Our belief in the economic prowess of the two countries has been confirmed by the support and encouragement we have received time and again through the backing and endorsements of key government bodies from both India and UAE. The presence of sovereign wealth funds, large corporates and industries at this gathering has been only getting stronger over the past two years.”
The UIEF will highlight the complementary nature of the two economies. Connected by age-old bonds and culture, they have always been an integral part of each other’s economy. Building on decades of rich cultural and historical bonds between India and the Middle East, the combined partnership between India and the UAE has developed from its initial days of trade in timber, spices and ivory to one in which bilateral trade has grown over $59 billion in the past few years.
The UIEF 2017 will feature panel discussions, focused sessions, VIP meeting booths and investors pavilion. The Forum will honour government leaders and businessmen, who made a mark for themselves and contributed to the growing economies of both countries with the Qadat Al Tagheer Awards 2017. The UIEF also features a Start-Up Zone, where a special session focused on start-ups includes all the key stakeholders such as government leaders, investors and start-ups making a wave. A Government Panel on Bilateral Trade will have key ministry officials from India and the UAE coming together to discuss and deliberate the steps needed to foster relations. The VIP Meeting Booths are specially designed booths for one-on-one networking and business discussion sessions; while the Investors’ Pavilion will showcase the investment opportunities that various regions and sectors in both countries have to offer. There also will be in State Pavilion with opportunity to showcase the investment possibilities that are available in various regions of both the countries.
The list of speakers include H.E. Dr. Rashid Alleem, Chairman of Sharjah Electricity and Water Authority (SEWA); H.E. Maryam Al Suwaidi, Deputy CEO for Licensing, Supervision & Enforcement at the Securities and Commodities Authority; H.E. Dr. Abdulla Al Karam, Chairman of the Board of Directors and Director General of Knowledge and Human Development Authority – Dubai; Dr. Ohan Balian, Chief Economist at Abu Dhabi Chamber of Commerce & Industry; H.E. Suhail Mohd Al Zarooni, Chairman of Suhail Al Zarooni Group; Colm McLoughlin, Executive Vice Chairman & CEO of Dubai Duty Free; Harj Dhaliwal, Middle East & India MD at Hyperloop One; PNC Menon, Chairman & Founder of Sobha Group; Saif Al Jaibeji, Co-Founder of Ras Al Khaimah Incubator and Accelerator; Laila Al Jassmi, CEO of Health Beyond Borders and Former CEO of Health Policy & Strategy Sector at Dubai Health Authority; Hussein Sayed, Anchor at CNBC Television & Chief Market Strategist at FXTM; Layelle Saad, Middle East Editor at Gulf News; Kuljit Singh Popli, Chairman & Managing Director of Indian Renewable Energy Development Agency; Dr. Rathin Roy, Director & CEO of National Institute of Public Finance & Policy in India; Shri Shailesh Patwari, President of Gujrat Chamber of Commerce; Brijeshwar Singh, Former Chairman of National Highways Authority of India; Utpal Deka, National Team Leader for Smart Cities Mission at Ministry of Urban Development – India; Joy Chakraborty, COO of Hinduja Hospital; Karuna Gopal, President of Foundation for Futuristic Cities; Mohammad Nassir Al Hazzaa, Director General of Emirates Industrial City; Nashwa Al Ruwaini, CEO of Pyramedia and Kamal Gupta, COO of Global Indian International School.
The key industry sectors taking part in the Forum include infrastructure, real estate; roads, highways & ports, manufacturing, banking & finance, eCommerce, hospitality, healthcare, tourism & travel, defence & security, space technology, sustainable utilities and renewables, media & entertainment, education and free zones.
The UIEF represents an exclusive opportunity to network with industry and government leaders as they lay out the economic and trade goals of both countries to explore new opportunities, and understand the policy frameworks and guidelines executed by both governments as they work hard to attract investors. The Forum also ensures opportunity to speak with select audience, meet relevant stakeholders and showcase leadership and expertise to the who’s who from the UAE and India in order to explore business opportunities.
The UAE and India share a common vision of progress and prosperity. The UAE investments in India have jumped by US$ 1 billion in the past one year alone, and the UAE is the second largest export destination for India, with US$ 30 billion for the year 2015–16. The total foreign direct investment inflows from UAE to India stand at US$ 4.03 billion ending March 2016. The UAE has been actively pursuing its plan to re-energise the Free Trade Agreement between the GCC and India. The Indian union cabinet gave the green signal to proceed with the Memorandum of Understanding (MoU) between India and the UAE to procure a US$-74-billion long-term investment in the National Investment and Infrastructure Fund (NIIF).